Santos is listing on Papua New Guinea’s stock exchange, the PNGX, after its merger with Oil Search received the necessary final approvals. It will immediately become the exchange’s largest listing, providing PNG’s capital markets with a timely boost.
Oil Search’s shareholders vote overwhelmingly to merge with Santos
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7 Dec 2021 by Leave a Comment
Oil Search’s shareholders have voted overwhelmingly to approve its merger with fellow petroleum and gas company Santos at a special shareholders meeting. With National Court and ICCC approval also received, the way is clear for the creation of a A$23 billion (K56.88 billion) resources company.
In brief: Santos submits application for Oil Search merger to ICCC and other business stories
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17 Nov 2021 by Leave a Comment
Santos and Oil Search merger now in the hands of the ICCC, DataCo reduces wholesale prices by 66 per cent for metro fibre connectivity services, and Treasurer Ling-Stuckey receives report on the Central Bank Act 2000 review. The business news you need to know.
Papua New Guinea’s P’nyang LNG project: what we know so far
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13 Oct 2021 by Leave a Comment
‘Heads of agreement’ have been reached for the ExxonMobil-led P’nyang gas project in Papua New Guinea’s Western Province. Business Advantage PNG looks at what this means for the project’s future development.
Time to grow: Papua New Guinea’s stock exchange looking to expand
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6 Oct 2021 by Leave a Comment
Crowdfunding and a new listed fund are in the pipeline at Papua New Guinea’s stock exchange, PNGX, as it looks at new ways of grow the country’s capital markets and encourage SMEs.
In brief: Papua New Guinea businesses owed two billion kina in GST refunds and other business stories
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6 Oct 2021 by Leave a Comment
Business owed K2 billion in GST refunds, Internal Revenue Commission to launch online tax payments and new Twinza Oil chairman to travel to Papua New Guinea. Your digest of the latest business news.
Santos and Oil Search agree to merge
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13 Sep 2021 by Leave a Comment
Oil and gas companies Oil Search and Santos have completed a merger agreement set to create a company with ‘a pro-forma market capitalisation’ of approximately A$21 billion (K54 billion). Regulatory and shareholder approvals will ultimately decide the deal’s fate, however.
People moves: Kumul Petroleum Holdings, Oil Search, International Finance Corporation
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25 Aug 2021 by Leave a Comment
Kumul Petroleum Holdings Limited (KPHL) welcomes new directors to its board, departure from Oil Search board, and the International Finance Corporation (IFC) gets a new Regional Director.
Santos and Oil Search agree terms for merger: what’s next?
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2 Aug 2021 by 3 Comments
The merger of two of the major players in Papua New Guinea’s oil and gas sector has taken a major step forward, with Santos and Oil Search agreeing terms. What would it mean for PNG?
Oil Search and Digicel bids: is Papua New Guinea entering mergers and acquisitions season?
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21 Jul 2021 by 1 Comment
Australian telecommunications giant Telstra has been in negotiations to buy Digicel, Papua New Guinea’s largest telco. Meanwhile, gas company Santos has been pursuing PNG’s largest company, Oil Search. Why is PNG seeing such mergers and acquisitions activity, and are more likely?
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